https://www.taxtmi.com/caselaws?id=241879 The Tribunal partly allowed the appeal of the assessee. The disallowance of expenditure incurred on replacement of machinery was upheld as capital expenditure, with depreciation allowed. The levy of interest under section 220(2) was directed to be recalculated from the date of the fresh assessment order. The levy of interest under sections 234B and 234C was upheld as mandatory and compensatory. en-us Wed, 20 Feb 2013 00:00:00 +0530 Fri, 03 Jan 2014 19:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241879 The Tribunal partly allowed the appeal of the assessee. The disallowance of expenditure incurred on replacement of machinery was upheld as capital expenditure, with depreciation allowed. The levy of interest under section 220(2) was directed to be recalculated from the date of the fresh assessment order. The levy of interest under sections 234B and 234C was upheld as mandatory and compensatory. Case-Laws Income Tax Wed, 20 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241879